Use an Annual Percentage Rate Table to Solve the Problem

question 102

Multiple Choice

Use an annual percentage rate table to solve the problem.
-A college student purchased a used car for $4000. He paid 8% down and then paid 18 monthly Payments of $216.79. Determine the APR of the loan to the nearest one-half of a percent.

• A) 8.5%
• B) 7.0%
• C) 7.5%
• D) 6.0%

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Definitions:

Enterprise Network

An organization’s network, which is composed of interconnected multiple LANs and WANs.

Traditional Network

A communication framework that relies on physical infrastructure and basic software for connectivity and data transfer among users.

SDN

Software-Defined Networking, a networking approach that allows networks to be intelligently and centrally controlled, or 'programmed,' using software applications.

CIO

Stands for Chief Information Officer, a senior executive responsible for managing an organization's information technology strategy.